1Z0-516 Oracle EBS R12.1 General Ledger Essentials Exam Set 4

What are the possible posting options in Oracle General Ledger?


Options are :

  • Post multiple batches Post batches that meet specific criteria by submitting a concurrent request
  • Post Journal batches individually Post multiple journals
  • Post Journal batches individually Post multiple batches Use Auto Post (Correct)
  • Post Journal batches individually Post multiple batches Post batches that meet specific criteria by submitting a concurrent request and using Journal Approval

Answer : Post Journal batches individually Post multiple batches Use Auto Post

Jason, the corporate controller of ABC.com where you are implementing Oracle General Ledger, Accounts Payable, an Accounts Receivable, is very excited about the Global Inter company System (GIS). He wrote some notes from a conversation with his accounting manager about GIS. He wants you to validate which points he has written down about GIS are true. Identify Jason's three correct points. (Choose three.)A. GIS enables intercompany transactions to be approved after transfer from AP and AR.
B. Unlike inter company accounting within the same set of books, GIS only works between sets of books but not within the same set of books.
C. Intercompany journals are created automatically as soon as they are approved.
D. You can set up GIS so that the sender's transactions do not need to be approved by the receiver.
E. If a sender approves the transaction but the receiver rejects it, the transaction is recalled.
F. Each company that uses GIS must be set up as a subsidiary that is associated with a balancing segment value.
G. You can optionally send notifications to a defined user or responsibility when an inter company transaction is initiated.


Options are :

  • C,D,G
  • A,B,C
  • D,F,G (Correct)
  • D,E,F

Answer : D,F,G

What are three benefits of using the Journals Import: Group By Effective Date profile option? (Choose three.)
A. Facilitate more transparent exchange rate conversions.
B. Facilitate consolidation.
C. Make daily updates to daily business intelligence.
D. Account for business transactions by effective date or by accounting date.
E. facilitates financial auditing and compliance with the new Sabanes-Oxley Act


Options are :

  • C,D,E (Correct)
  • A,B,C
  • A,B,D
  • A,C,E

Answer : C,D,E

Oracle 1Z0-976 Cloud Service Implementation Essentials Exam Set 1

Which statement is correct about the differences between the functionalities of parent accounts and summary accounts?


Options are :

  • Summary accounts use the summing segment type for mass allocations, whereas parent accounts use the looping segment type.
  • Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form (Correct)
  • Summary accounts speed up the posting process, whereas parent accounts require additional time for the posting process.
  • Summary accounts cannot be used in budget formulas, whereas parent accounts can be used in budget formulas.

Answer : Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form

After creating a number of Financial Statement Generator reports, ABC.com wants a list of the definitions for one specific account. Which report should be run to provide that information?


Options are :

  • FSG: Content Set Detail Listing
  • FSG: Where Used Report (Correct)
  • FSG: Report Detail Listing

Answer : FSG: Where Used Report

ABC.com is a national company with five divisions that share the same set of books. Select the statement that best describes the consolidation process for ABC Corporation. 


Options are :

  • Run revaluation and translation, transfer data and run financial reports.
  • Run revaluation, translation, and eliminations; transfer data and run financial reports.
  • Enter eliminating journals and run financial reports. (Correct)
  • Run translations, transfer data and run financial reports.

Answer : Enter eliminating journals and run financial reports.

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 7

All of the manual journal entries are defaulting to a non current period. Which step was omitted from the accounting cycle?


Options are :

  • Translated Foreign Balances
  • Post Journal Entries
  • Consolidate Financials
  • Update Period (Correct)

Answer : Update Period

ABC.com, a Canadian subsidiary of a U.S. company, wants to have an adjusting period in addition to its 12 calendar month accounting periods. Its fiscal year end is March 31. It will use foreign currency translations for its financial reports to the U.S. parent company, beginning April 2006. The company wants to use accounting period names that show the calendar year, not fiscal year. It plans to go live beginning April 1, 2006 with conversion of 1 year historical GL balances (fiscal year ending March 31, 2006). Choose the most appropriate accounting calendar setup.


Options are :

  • Period Type: Fiscal. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-05 and Adj-06.
  • Period Type: Calendar. Accounting periods named: Apr-05 through Mar-07, with one adjusting period named Adj-06.
  • Period Type: Fiscal. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-06 and Adj-07
  • Period Type: Calendar. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-06 and Adj-07. (Correct)

Answer : Period Type: Calendar. Accounting periods named: Apr-05 through Mar-07, with two adjusting periods named Adj-06 and Adj-07.

ABC.com has many Financial Statement Generator reports created to produce Profit & Loss statements and Balance Sheet reports. Occasionally ABC.com has a need to run a report that is slightly different than the standard ones that are already created. Which two types of changes could XYZ make using the Row Order feature? (Choose two.)A. display segment values and descriptions
B. add a new calculation
C. change how rounding options are performed
D. sort based on column values 


Options are :

  • B,C
  • A,B
  • A,D (Correct)
  • C,D

Answer : A,D

1Z0-520 Oracle EBS R12 Purchasing Essentials Practice Exam Set 2

What is the effect of summary accounts on the efficiency of the posting process?


Options are :

  • There is no effect, because summary accounts do not use the posting process to accumulate values
  • Use of summary accounts increases the efficiency of the posting process.
  • Use of summary accounts neither increases nor decreases the efficiency of the posting process.
  • Use of summary accounts decreases the efficiency of the posting process (Correct)

Answer : Use of summary accounts decreases the efficiency of the posting process

ABC.com is implementing Oracle E-Business Suite 11.5.10. It wants to use a global chart of accounts. It has business operations in Canada, the United States, France, and Spain. You are told that both France and Spain require Document Sequencing whereas Canada and the United
States do not. There are three legal entities in Canada, four in the United States, two in France, and two in Spain. All legal entities have the same fiscal year end. Advise the DBI Enterprise corporate controller what is feasible, in order to set up the minimum number of set of books,
without customization.


Options are :

  • 1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books. (Correct)
  • 1 set of books for Canada, 1 for the U.S. and 1 for Europe. Install and set up Global Accounting Engine for Europe
  • 1 set of books for Canada, 1 for the U.S. and 1 for France and 2 for Spain. Install and set up Global Accounting Engine for France and Spain sets of books
  • 1 set of books for Canada, 1 for the U.S. and 2 for France and 1 for Spain. Enable Document Sequencing for France and Spain sets of books

Answer : 1 set of books for Canada, 1 for the U.S. and 2 for France and 2 for Spain. Enable Document Sequencing for France and Spain sets of books.

OCA Oracle Database 10g Administrator I-1Z0-042 & II-1Z0-043 Set 3

Which five do you need to define to meet the minimum pre-requisites to create a set of books? (Choose five.)
A. a retained earnings account
B. an accounting calendar
C. a translation adjustment account
D. the functional currency (or a seeded currency)
E. an encumbrance account
F. a chart of accounts structure
G. a suspense account
H. a transaction calendar
I. at least one value for each segment of the chart of accounts


Options are :

  • C,D,E,F,G
  • A,B,D,F,I (Correct)
  • A,B,C,D,E
  • E,F,G,H,I

Answer : A,B,D,F,I

Which two actions would you perform using the Column Set Builder? (Choose two.)
A. create format mask
B. assign accounts
C. sort rows based on values in a column
D. define calculations in new column 


Options are :

  • A,B
  • B,C
  • C,D
  • A,D (Correct)

Answer : A,D

After running the Payables Accounting Process and posting the Journal Import, the accountant determines that several invoices have not been transferred to the General Ledger. Which three can cause an invoice to not be transferred to the General Ledger? (Choose three.)
A. Invoice is future-dated.
B. Invoice is voided in the prior period.
C. Invoice is on hold.
D. Invoice is unvalidated.
E. Invoice is unaccounted. 


Options are :

  • A,B,C
  • C,D,E (Correct)
  • A,E,D
  • A,B,D

Answer : C,D,E

1Z0-409 Oracle Linux Fundamentals Practice Test Set 2

Your manager has asked you to create a period close process that maximizes the efficiency of your two staff members and minimizes the number of closing days. Identify two sets of sub ledgers that can be closed concurrently. (Choose two.)A. Projects and Payables
B. Order Management and Projects
C. Payables and Receivables
D. Inventory and Receivables
E. Payables and Assets


Options are :

  • A,B
  • C,D
  • A,E
  • B,C (Correct)

Answer : B,C

Mark, the GL accountant comes to you and says that he is running the tests to check budget functionality. He says that the GL period is closed, but he was able to post the budget journal in a closed period. You check the setups and confirm that the GL period in which Peter was able to post the budget journal is closed. What explanation do you provide to Mark?


Options are :

  • The budget year is Open. (Correct)
  • The budget status is Current.
  • The Profile option Require Budget Journal is set at the set of books level.
  • The budget status is Frozen.

Answer : The budget year is Open.

ABC.com has many parent segment values with a large number of child values in each parent. ABC.com is having problems running reports. Which profile option would enable better performance?


Options are :

  • FSG: Enable Search Optimization (Correct)
  • FSG: Enforce Segment Value Security
  • FSG: Expand Parent Value

Answer : FSG: Enable Search Optimization

OCA Oracle 12C Administration (1Z0-062) Practice Test Set 1

ABC.com, the GL accountant comes to you and says that she has defined two budgets, but after selecting the budget organization in the Enter Budget Amounts form, she can select only one budget from the list of values (LOV). What is your response?


Options are :

  • The last fiscal year of the budget is Closed.
  • Budget status is Current
  • The first fiscal year of the budget was never opened. (Correct)
  • Accounts need to be reassigned to the budget organization.

Answer : The first fiscal year of the budget was never opened.

Which three functions can the Payables Accounting Process perform? (Choose three.)
A. transfers data to the interface table
B. runs the journal import
C. validates distribution lines
D. creates accrual entries
E. creates accounting entries


Options are :

  • C,D,E
  • B.C.D
  • A,B,C
  • A,B,E (Correct)

Answer : A,B,E

Revenue accounts can be viewed only by the head of the Finance team, who has a GL Superuser responsibility. She has successfully created a standard Profit and Loss statement for the company. Another member of the department with a General Ledger Supervisor responsibility has been asked to run the standard Profit and Loss statement for Feb-06. The report shows only the expenses accounts. Which two steps should she perform so that the Profit and Loss statement will run successfully? (Choose two.)
A. Ask to have security removed from her responsibility.
B. Ask to have the profile option FSG: Enforce Segment Value Security changed to No.
C. Recreate the Profit and Loss under her own responsibility.
D. Perform an on-line inquiry to get the revenue balances.


Options are :

  • A,B (Correct)
  • B,D
  • C,D
  • A,C

Answer : A,B

OCA Oracle Database 10g Administrator I-1Z0-042 & II-1Z0-043 Set 4

ABC.com is a U.S.-based company with business operations in North America and Europe. It has existing Oracle GL sets of books in its single global instance. All sets of books use a global chart of accounts and a common accounting calendar. It just expanded its business to Australia and acquired two new companies with the same year end as World Inc. It wants to be able to include the new companies in existing financial reports created with Financial Statements Generator (FSG). How can it easily integrate the two new companies into its existing GL with minimal effort? 


Options are :

  • Define the new company values, enable AUD currency and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the two new sets of books into their existing consolidation set of books.
  • Define two new company values, define a new AUD currency, and define two new sets of books. Translate AUD to USD for FSG reports in USD. Consolidate the new sets of books into its existing consolidation set of books
  • Define two new company values, enable AUD currency, and define two new sets of books. Translate AUD to USD and include the two new companies for FSG reports in USD
  • Define two new company values, enable AUD currency, and define a new set of books. Translate AUD to USD and include the two new companies for FSG reports in USD (Correct)

Answer : Define two new company values, enable AUD currency, and define a new set of books. Translate AUD to USD and include the two new companies for FSG reports in USD

For each sub ledger there should be one _____.


Options are :

  • Journal Source (Correct)
  • Journal Type
  • Account Type
  • Journal Category

Answer : Journal Source

Which reports would be appropriate as part of a financial month-end close? (Choose all that apply.)
A. Trial Balance - Detail
B. Account Analysis
C. Other - Calendar Validation Report
D. Chart of Accounts - Segment Values Listing
E. Currency - Daily Conversion Rates Listing


Options are :

  • A,C
  • B,D
  • A,B (Correct)
  • C,D

Answer : A,B

OCA Oracle Database 10g Administrator I-1Z0-042 & II-1Z0-043 Set 3

What is a benefit of the secondary tracking segment? 


Options are :

  • Additional security ensures that correct accounts are selected while entering transactions.
  • The Management segment is enabled automatically when the secondary segment is defined.
  • More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts. (Correct)

Answer : More details are provided to retained earnings, cumulative translation adjustments, and revaluation gains/losses accounts.

What are the possible posting options in Oracle General Ledger?


Options are :

  • Post multiple batches Post batches that meet specific criteria by submitting a concurrent request
  • Post Journal batches individually Post multiple batches Use AutoPost (Correct)
  • Post Journal batches individually Post multiple journals
  • Post Journal batches individually Post multiple batches Post batches that meet specific criteria by submitting a concurrent request and using Journal Approval

Answer : Post Journal batches individually Post multiple batches Use AutoPost

Which statement is correct about the differences between the functionalities of parent accounts and summary accounts?


Options are :

  • Summary accounts use the summing segment type for mass allocations, whereas parent accounts use the looping segment type.
  • Summary accounts cannot be used in budget formulas, whereas parent accounts can be used in budget formulas.
  • Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form. (Correct)
  • Summary accounts slow down the generation of Financial Statement Generators, whereas parent accounts will help generate quicker results.

Answer : Summary accounts balances can be viewed in the Account Inquiry form, whereas parent accounts balances cannot be viewed in that form.

OCP Oracle Database 11g Administrator Certified Professional Set 4

ABC.com, the GL accountant comes to you with a requirement that all the journal batches for
financial allocations should be automatically generated and validated. She wants to know whether
Oracle GL functionality can satisfy this requirement. What is your response? 


Options are :

  • It is not possible to satisfy this requirement.
  • It is possible to satisfy this requirement by using the auto allocation functionality. (Correct)
  • Dynamic Insert must be enabled to satisfy this requirement.
  • Cross-validation rules must be defined to satisfy this requirement.

Answer : It is possible to satisfy this requirement by using the auto allocation functionality.

Which three statements are true about mapping rules? (Choose three.)
A. The Subsidiary set of books and Parent set of books must have the same chart of accounts to use segment-mapping rules.
B. You can define account rules.
C. You can define segment rules instead of account rules for faster processing.
D. You can define segment mapping rules.
E. You can modify your rollup rule after it has been saved.
F. You can define segment or account rules, but not a combination of both.


Options are :

  • A,B,D
  • B,C,D (Correct)
  • A,B,C
  • D,E,F

Answer : B,C,D

Your client is closing its first period. The Accounting Manager informs you that she is unable to transfer payables to the general ledger or run other reports. She is using the Company XYZ Payable Manager responsibility. What is the likely cause of this error?


Options are :

  • The responsibility is set up with menu exclusions.
  • The responsibility is set up without a request group. (Correct)
  • The responsibility is set up with security attributes.
  • The responsibility is set up without a data group.

Answer : The responsibility is set up without a request group.

1Z0-516 Oracle EBS R12.1 General Ledger Essentials Exam Set 10

During the testing phase of your implementation, you find that you are unable to delete a journal batch, though it is not yet posted. You ask the technical consultant for help and he e-mails you a checklist of scenarios in which batches cannot be deleted. Which scenarios would be on this checklist? (Choose three.)
A. The source is frozen.
B. The journal batch has not been approved.
C. The journal batch has not been posted.
D. Funds have been reserved for the batch.
E. Funds are in the process of being reserved for the batch. 


Options are :

  • A,B,D
  • A,D,E (Correct)
  • C,D,E
  • A,B,C

Answer : A,D,E

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